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Incomes Hit New Record High and Poverty Fell to Pre-Recession Low in 2017

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Written by Joseph Lawler Washington Examiner via The White House

Washington, DC - Typical family incomes rose to new record highs in 2017, and poverty subsided to pre-recession lows, the Census Bureau reported Wednesday.

Median household income rose to $61,400, according to the bureau’s Current Population Survey, improving 1.8 percent on the previous year’s mark of $60,300. Over the past two years, median incomes appear to have eclipsed, finally, the all-time high set in the dotcom bubble year of 1999, adjusting for inflation.

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As the economy recovery extended into President Trump’s first year in office, incomes appeared to reach new all-time highs.

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Incomes have also been boosted by greater employment, and more people working full time rather than part time.